IGC GROUP
ActiveSummary
The available accounts are not entirely expressed in euros. Calculating a bankruptcy probability requires a reliable currency conversion. The 2025 annual accounts show equity of USD 61.7m and a net result of -USD 7.3m. Its solvency ranks better than 57% of 5071 sector peers (fiscal year 2025). The company has been active since 1978 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability7▲+1
Solvency77▼-4
Growth-
Track record100
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-07-2026, 5 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
5 d early
2024
on the day
2023
5 d early
2022
13 d early
2021
30 d early
2020
1 d early
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 26 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Amounts retain their source currency, without conversion. Different currencies are not compared or combined in one chart; mixed amounts within a fiscal year are withheld.
Turnover
USD 84.3m
2024 · €93.6m
EBIT margin
-7.4%▲ 1.6pp
2024 · -9.1%
Net result
-USD 7.3m
2024 · -€9.7m
Working capital
USD 91.0m
2024 · €98.1m
Trend over the years
In per cent
Ratio
In full-time equivalents (FTE)
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€161.5m▲ 76.1%€170.9m▲ 5.8%€121.8m▼ 28.7%€93.6m▼ 23.2%USD 84.3m
Operating result€4.9m€9.4m▲ 92.2%€284,553▼ 97.0%-€8.5m-USD 6.3m
Net result€4.0m€8.5m▲ 112%-€710,555-€9.7m▼ 1,265%-USD 7.3m
EBIT margin3.0%▲ 3.2pp5.5%▲ 2.5pp0.2%▼ 5.2pp-9.1%▼ 9.3pp-7.4%▲ 1.6pp
Equity€72.5m▲ 5.9%€81.0m▲ 11.7%€80.3m▼ 0.9%€69.0m▼ 14.0%USD 61.7m
Total assets€132.3m▲ 2.9%€140.0m▲ 5.8%€140.9m▲ 0.7%€124.1m▼ 11.9%USD 118.7m
Debt€59.9m▼ 0.5%€59.0m▼ 1.4%€60.6m▲ 2.8%€55.1m▼ 9.2%USD 57.0m
Working capital€107.3m▲ 4.0%€113.0m▲ 5.3%€107.9m▼ 4.5%€98.1m▼ 9.1%USD 91.0m
Solvency54.8%within the sector's middle half▲ 1.5pp57.9%within the sector's middle half▲ 3.1pp57.0%within the sector's middle half▼ 0.9pp55.6%within the sector's middle half▼ 1.3pp51.9%within the sector's middle half▼ 3.7pp
Current ratio12.85above the sector's middle half▲ 0.4310.91above the sector's middle half▼ 1.937.11above the sector's middle half▼ 3.808.92above the sector's middle half▲ 1.817.39above the sector's middle half▼ 1.53
Return on assets (ROA)3.0%within the sector's middle half▲ 3.8pp6.1%within the sector's middle half▲ 3.0pp-0.5%below the sector's middle half▼ 6.6pp-7.8%below the sector's middle half▼ 7.3pp-6.2%below the sector's middle half▲ 1.6pp
Staff (FTE)33.1above the sector's middle half▼ 1.8%34.7above the sector's middle half▲ 4.8%36.1above the sector's middle half▲ 4.0%37above the sector's middle half▲ 2.5%35.1above the sector's middle half▼ 5.1%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Balance-sheet composition
Assets USD 118.7m
Fixed assets
USD 13.4m
Current assets
USD 105.3m
Equity and liabilities USD 118.7m
Equity
USD 61.7m
Debt
USD 57.0m
Debt's share of the balance-sheet total rises from 44.4% to 48.1%.
Key figures and ratios
EBITDA
-USD 6.0m
2024 · -€8.1m
Cash flow
-USD 7.1m
2024 · -€9.3m
Quick ratio
1.84▼
2024 · 2.05
Debt to equity
0.93▲
2024 · 0.80
ROE
-11.9%▲
2024 · -14.1%
Interest coverage
-8.63▲
2024 · -11.27
Debt ≤ 1 year
USD 14.3m
2024 · €12.4m
Debt > 1 year
USD 42.1m
2024 · €42.5m
Income taxes
USD 139,878
2024 · €407,228
Staff costs
USD 2.9m
2024 · €2.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €162.0m | €171.4m | €122.3m | €94.2m | USD 84.6m | ▼ 10.2% |
| Turnover70 | €161.5m | €170.9m | €121.8m | €93.6m | USD 84.3m | ▼ 10.0% |
| Other operating income74 | €459,378 | €469,932 | €509,325 | €539,383 | USD 300,752 | ▼ 44.2% |
| Non-recurring operating income76A | - | €25,332 | - | €54,437 | USD 6,812 | ▼ 87.5% |
| Operating charges60/66A | €157.1m | €162.0m | €122.1m | €102.7m | USD 90.9m | ▼ 11.5% |
| Goods for resale, raw materials and consumables60 | €151.2m | €156.5m | €116.5m | €97.0m | USD 85.0m | ▼ 12.3% |
| Change in stocks: decrease (increase)609 | -€6.4m | -€20.0m | €3.4m | €5.5m | USD 6.0m | ▲ 10.5% |
| Services and other goods61 | €2.9m | €2.4m | €2.3m | €2.4m | USD 2.6m | ▲ 5.7% |
| Remuneration, social security and pensions62 | €2.4m | €2.3m | €2.8m | €2.8m | USD 2.9m | ▲ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €478,644 | €453,647 | €413,027 | €394,550 | USD 268,112 | ▼ 32.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €50,000 | -€900,000 | -€20,201 | - | - | - |
| Other operating charges640/8 | €97,703 | €1.3m | €88,768 | €87,236 | USD 87,704 | ▲ 0.5% |
| Non-recurring operating charges66A | €19,362 | - | - | - | USD 12,818 | - |
| Operating profit (loss)9901 | €4.9m | €9.4m | €284,553 | -€8.5m | -USD 6.3m | ▲ 26.3% |
| Recurring financial income75 | €273,879 | €367,895 | €449,049 | €134,269 | USD 99,162 | ▼ 26.1% |
| Other financial income752/9 | €273,879 | €367,895 | €449,049 | €134,269 | USD 99,162 | ▼ 26.1% |
| Financial charges65/66B | €907,699 | €1.1m | €976,742 | €915,205 | USD 1.0m | ▲ 11.4% |
| Recurring financial charges65 | €907,699 | €1.1m | €976,742 | €915,205 | USD 1.0m | ▲ 11.4% |
| Debt charges650 | €723,533 | €665,951 | €686,942 | €720,091 | USD 695,462 | ▼ 3.4% |
| Other financial charges652/9 | €184,166 | €429,285 | €289,800 | €195,114 | USD 323,941 | ▲ 66.0% |
| Profit (loss) for the period before taxes9903 | €4.2m | €8.6m | -€243,140 | -€9.3m | -USD 7.2m | ▲ 22.6% |
| Income taxes67/77 | €220,000 | €130,430 | €467,415 | €407,228 | USD 139,878 | ▼ 65.7% |
| Taxes670/3 | €220,000 | €235,850 | €467,415 | €407,228 | USD 139,878 | ▼ 65.7% |
| Tax adjustments and reversals of tax provisions77 | - | €105,420 | - | - | - | - |
| Profit (loss) for the period9904 | €4.0m | €8.5m | -€710,555 | -€9.7m | -USD 7.3m | ▲ 24.4% |
| Profit (loss) for the period to be appropriated9905 | €4.0m | €8.5m | -€710,555 | -€9.7m | -USD 7.3m | ▲ 24.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €132.3m | €140.0m | €140.9m | €124.1m | USD 118.7m | ▼ 4.3% |
| Fixed assets21/28 | €15.9m | €15.5m | €15.4m | €13.6m | USD 13.4m | ▼ 1.3% |
| Intangible fixed assets21 | €209,384 | €146,309 | €103,694 | €57,918 | USD 43,410 | ▼ 25.0% |
| Tangible fixed assets22/27 | €12.6m | €12.3m | €12.1m | €12.0m | USD 11.8m | ▼ 1.4% |
| Land and buildings22 | €11.9m | €11.8m | €11.7m | €11.6m | USD 11.5m | ▼ 0.9% |
| Plant, machinery and equipment23 | €47,810 | €11,885 | €1,098 | €32,239 | USD 59,914 | ▲ 85.8% |
| Furniture and vehicles24 | €623,187 | €449,696 | €413,505 | €363,729 | USD 266,935 | ▼ 26.6% |
| Financial fixed assets28 | €3.1m | €3.1m | €3.1m | €1.5m | USD 1.6m | ▲ 0.8% |
| Affiliated companies280/1 | €3.1m | €3.1m | €3.1m | €1.5m | USD 1.5m | = |
| Participating interests280 | €3.1m | €3.1m | €3.1m | €1.5m | USD 1.5m | = |
| Other financial fixed assets284/8 | €11,029 | €11,029 | €11,029 | €11,029 | USD 23,331 | ▲ 112% |
| Amounts receivable and cash guarantees285/8 | €11,029 | €11,029 | €11,029 | €11,029 | USD 23,331 | ▲ 112% |
| Current assets29/58 | €116.4m | €124.4m | €125.5m | €110.4m | USD 105.3m | ▼ 4.7% |
| Stocks and contracts in progress3 | €72.6m | €92.6m | €89.5m | €85.1m | USD 79.1m | ▼ 7.1% |
| Stocks30/36 | €72.6m | €92.6m | €89.5m | €85.1m | USD 79.1m | ▼ 7.1% |
| Goods purchased for resale34 | €72.6m | €92.6m | €89.2m | €83.7m | USD 77.7m | ▼ 7.2% |
| Advance payments36 | - | - | €277,776 | €1.3m | USD 1.4m | ▲ 2.8% |
| Amounts receivable within one year40/41 | €28.4m | €24.8m | €27.1m | €20.6m | USD 19.6m | ▼ 4.8% |
| Trade receivables40 | €28.2m | €24.7m | €27.0m | €20.4m | USD 19.4m | ▼ 5.2% |
| Other amounts receivable41 | €119,580 | €33,339 | €54,786 | €140,958 | USD 217,497 | ▲ 54.3% |
| Cash at bank and in hand54/58 | €15.0m | €6.6m | €8.6m | €4.4m | USD 6.4m | ▲ 44.5% |
| Deferred charges and accrued income490/1 | €380,474 | €389,438 | €324,497 | €363,197 | USD 213,103 | ▼ 41.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €132.3m | €140.0m | €140.9m | €124.1m | USD 118.7m | ▼ 4.3% |
| Equity10/15 | €72.5m | €81.0m | €80.3m | €69.0m | USD 61.7m | ▼ 10.6% |
| Contributions10/11 | €51.2m | €51.2m | €51.2m | €51.2m | USD 51.2m | = |
| Capital10 | €51.2m | €51.2m | €51.2m | €51.2m | USD 51.2m | = |
| Issued capital100 | €51.2m | €51.2m | €51.2m | €51.2m | USD 51.2m | = |
| Revaluation surpluses12 | €1.8m | €1.8m | €1.8m | €211,965 | USD 211,965 | = |
| Reserves13 | €19.5m | €28.0m | €27.3m | €17.6m | USD 10.3m | ▼ 41.7% |
| Non-distributable reserves130/1 | €5.8m | €5.8m | €5.8m | €5.8m | USD 5.8m | = |
| Legal reserve130 | €5.8m | €5.8m | €5.8m | €5.8m | USD 5.8m | = |
| Tax-exempt reserves132 | €33,744 | €33,744 | €33,744 | €33,744 | USD 33,744 | = |
| Distributable reserves133 | €13.6m | €22.2m | €21.4m | €11.7m | USD 4.4m | ▼ 62.4% |
| Amounts payable17/49 | €59.9m | €59.0m | €60.6m | €55.1m | USD 57.0m | ▲ 3.6% |
| Amounts payable after more than one year17 | €50.2m | €46.4m | €42.3m | €42.5m | USD 42.1m | ▼ 0.8% |
| Financial debts170/4 | €2.6m | €2.1m | €1.7m | €1.3m | USD 1.1m | ▼ 16.4% |
| Credit institutions173 | €2.6m | €2.1m | €1.7m | €1.3m | USD 1.1m | ▼ 16.4% |
| Other amounts payable178/9 | €47.7m | €44.4m | €40.6m | €41.2m | USD 41.1m | ▼ 0.4% |
| Amounts payable within one year42/48 | €9.1m | €11.4m | €17.7m | €12.4m | USD 14.3m | ▲ 15.1% |
| Current portion of amounts payable after more than one year42 | €380,000 | €356,667 | €366,667 | €343,433 | USD 391,500 | ▲ 14.0% |
| Financial debts43 | €1.4m | €1.4m | €3.8m | €4.5m | USD 4.5m | ▲ 0.5% |
| Other loans439 | €1.4m | €1.4m | €3.8m | €4.5m | USD 4.5m | ▲ 0.5% |
| Trade debts44 | €6.8m | €8.8m | €12.6m | €7.1m | USD 8.8m | ▲ 23.8% |
| Suppliers440/4 | €6.8m | €8.8m | €12.6m | €7.1m | USD 8.8m | ▲ 23.8% |
| Taxes, remuneration and social security45 | €463,545 | €787,227 | €863,624 | €388,141 | USD 505,138 | ▲ 30.1% |
| Taxes450/3 | €220,285 | €533,732 | €535,705 | €94,605 | USD 196,038 | ▲ 107% |
| Remuneration and social security454/9 | €243,260 | €253,495 | €327,919 | €293,536 | USD 309,100 | ▲ 5.3% |
| Other amounts payable47/48 | - | - | - | €15,000 | - | - |
| Accrued charges and deferred income492/3 | €554,481 | €1.2m | €636,859 | €183,042 | USD 654,175 | ▲ 257% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4.0m | €8.5m | -€710,555 | -€9.7m | -USD 7.3m | ▲ 24.4% |
| + Depreciation and write-downs630 | €478,644 | €453,647 | €413,027 | €394,550 | USD 268,112 | ▼ 32.0% |
| Operating cash flow (approximation) | €4.5m | €9.0m | -€297,528 | -€9.3m | -USD 7.1m | ▲ 24.1% |
| Investment in fixed assets (approximation) | - | -€79,453 | -€221,731 | €1.3m | -USD 95,084 | ▼ 107% |
| Change in cash | - | -€8.4m | €2.0m | -€4.2m | USD 2.0m | ▲ 146% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet -€9.7m
Net result drops to -€9.7m, the lowest in the series; recovery starts the following year.
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
18-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €8.5m ▲112%
Operating result €9.4m, net result €8.5m, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €4.0m
Net result €4.0m after 2 loss-making years.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 31 days late
2019
31-12
Financial
Liquidity times 5current ratio 11.22
Current ratio from 2.31 to 11.22; short-term debt falls from €53.0m to €12.1m.
30-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
14-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 14 days late
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 20 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 1978
Ground area
484 m²
Building footprint
259 m²
Volume, LiDAR
7,817 m³
Parcel 11808H1176/00X017, Flanders · tallest building 35.1 m, ±11 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
Schupstraat 15, 2018 Antwerpen
since 19782.015.517.369
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11808H1176/00X017 | Flanders | 484 m² | 1 · 259 m² | 35.1 m · 11 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 1,228 companies in this sector we hold annual accounts for 748. 125 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPublic limited company
Founded18-10-1978
Fiscal year end31-12
Activities, NACEBEL 2025
46861Wholesale of diamonds and other precious stones
Contact
Website
igcgroup.com
Phone
032034567
E-invoicing
Reachable via Peppol
Peppol ID
0208:0418800864
Also
9925:BE0418800864
Registered
22-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.